Golden Valley, Minn.-based Twin Cities Orthopedics operates the facility, which spans 85,602 square feet. An entity affiliated with Healthpeak Properties, a real estate investment trust, purchased the property, according to the report.
The ASC increases the building’s value, Brian Bruggeman, a senior vice president at real estate company Colliers, told the publication. He also said that investor demand for medical office building sales is outpacing current supply.
The transaction closed April 30. That day, Healthpeak also acquired two other medical office buildings in Burnsville for $21 million and $14 million, according to the report.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.